Press releases
Arriva acquires MK Metro Ltd
13 February 2006
Arriva plc, the European transport services Group, has acquired Premier Buses Limited, the holding company of MK Metro Limited (MK Metro), of Milton Keynes for a net cash consideration of £5.6 million.
The consideration consists of £6.8 million for shares in MK Metro's holding company Premier Bus Limited, less inherited cash in the company of £1.2 million.
MK Metro operates commercial and tendered services in Milton Keynes, in Bedfordshire and in Northamptonshire. The company has 260 employees, 120 vehicles and in 2005 reported an annual turnover of £8.6 million.
In the south of England, Arriva operates over 1,400 buses from 24 locations outside London.
Mike Cooper, managing director of Arriva UK Regions, said:
This acquisition gives Arriva a good opportunity to expand our presence in the south of England. Milton Keynes' population is set to expand over the next five years, giving us strong growth prospects.
